Ascendis Pharma A/S (NASDAQ:ASND) Stock Price Down 6.6% - Here's What Happened

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) traded down 6.6% during mid-day trading on Wednesday . The company traded as low as $169.00 and last traded at $167.26. 225,223 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 495,138 shares. The stock had previously closed at $179.10.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ASND. Evercore ISI lifted their price objective on shares of Ascendis Pharma A/S from $260.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Oppenheimer restated an "outperform" rating and set a $224.00 price target (up from $215.00) on shares of Ascendis Pharma A/S in a research report on Friday, June 13th. Royal Bank Of Canada boosted their price target on shares of Ascendis Pharma A/S from $205.00 to $210.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 target price on shares of Ascendis Pharma A/S in a report on Monday, May 12th. Finally, Wedbush boosted their target price on shares of Ascendis Pharma A/S from $181.00 to $212.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $220.67.

Ascendis Pharma A/S Price Performance

The stock's 50 day simple moving average is $166.42 and its two-hundred day simple moving average is $150.81. The stock has a market cap of $10.53 billion, a price-to-earnings ratio of -27.42 and a beta of 0.37.

Ascendis Pharma A/S (NASDAQ:ASND - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($1.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.10). The company had revenue of $123.97 million for the quarter, compared to analyst estimates of $98.56 million. As a group, analysts predict that Ascendis Pharma A/S will post -4.34 earnings per share for the current year.

Institutional Trading of Ascendis Pharma A/S

Large investors have recently bought and sold shares of the business. Aristeia Capital L.L.C. boosted its position in Ascendis Pharma A/S by 4.6% during the 1st quarter. Aristeia Capital L.L.C. now owns 11,300 shares of the biotechnology company's stock worth $1,761,000 after acquiring an additional 500 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Ascendis Pharma A/S by 10.4% in the first quarter. Goldman Sachs Group Inc. now owns 585,581 shares of the biotechnology company's stock worth $91,269,000 after purchasing an additional 55,164 shares during the period. Cinctive Capital Management LP bought a new position in shares of Ascendis Pharma A/S in the first quarter worth $1,191,000. Advisors Asset Management Inc. boosted its stake in Ascendis Pharma A/S by 11.5% in the first quarter. Advisors Asset Management Inc. now owns 9,190 shares of the biotechnology company's stock valued at $1,432,000 after buying an additional 949 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Ascendis Pharma A/S during the first quarter valued at about $51,029,000.

About Ascendis Pharma A/S

Ascendis Pharma A/S, a biopharmaceutical company, focuses on developing therapies for unmet medical needs. It offers SKYTROFA for treating patients with growth hormone deficiency (GHD). The company is also developing a pipeline of three independent endocrinology rare disease product candidates in clinical development, as well as focuses on advancing oncology therapeutic candidates.